Gasoline: Cost support weakens and the market continues to decline

Gasoline: cost support weakens, market continues to decline

International crude oil closed

 

Date	Market	Specifications	Close (US dollars / barrel)	Rise and fall
20230925	America	WTI	89.68	-0.35
20230925	The United Kingdom	Brent	93.29	0.02

 

Gasoline price index

On September 26th, China's gasoline price index fell 17.23, or 0.18%, to 9514.34, while China's gasoline price index fell 23.14, or 0.23%, to 9841.56. The 9-month gasoline index and the 9-month gasoline index were both downgraded, and the price difference between the 9-month gasoline index and the 9-month gasoline index was 327.22.

 

Gasoline market analysis:

The wholesale prices of gasoline in China today continued to fall yesterday, with gasoline prices in South China, Central China, East China, Northwest and Southwest regions cut by 20-100 yuan per ton. Gasoline prices in North China and Northeast China are temporarily stable. The ex-factory price of georefining has been reduced, of which the price of gasoline in Shandong, North China, Central China, East China and Northwest China has been reduced by 20-100 yuan per ton, while the price of gasoline in Northeast China remains unchanged. At present, the turnover of China's gasoline market continues to be light, the enthusiasm of operators to enter the market has obviously weakened, there are few large orders, and the rigid demand for small orders is mainly. The delivery speed of the refinery is slow and it is a little tired.

The wholesale price of gasoline on September 26th (RMB / ton)
Area	Gasoline model	Price 9.25	Price 9.26	Rise and fall
North China region	92#	9000-10130	9000-10130	0/0
	95#	9200-10510	9200-10510	0/0
South China	92#	9300-9900	9250-9900	-50/0
	95#	9550-10200	9500-10200	-50/0
Central China	92#	9300-9600	9270-9600	-30/0
	95#	9450-9800	9420-9800	-30/0
East China region	92#	9300-9650	9200-9600	-100/-50
	95#	9500-10000	9400-10000	-100/0
Northwestern region	92#	9380-10134	9280-10134	-100/0
	95#	9580-10620	9480-10620	-100/0
Southwest China	92#	9450-9850	9450-9780	0/-70
	95#	9700-10250	9700-10230	0/-20
Northeast China	92#	9300-9900	9300-9900	0/0
	95#	9600-10400	9600-10400	0/0

 

September 26 gasoline refinery ex-factory price (yuan / ton)
Area	Gasoline model	Price 9.25	Price 9.26	Rise and fall
Shandong area	92#	8780-9130	8740-9100	-40/-30
	95#	8930-9290	8880-9250	-50/-40
North China region	92#	8910-9020	8840-9000	-70/-20
	95#	9010-9070	8940-9050	-70/-20
Central China	92#	9240-9240	9210-9210	-30/-30
	95#	9440-9440	9410-9410	-30/-30
East China region	92#	8930-9050	8890-9000	-40/-50
	95#	9050-9220	9010-9170	-40/-50
Northwestern region	92#	9100-9350	9050-9250	-50/-100
	95#	9250-9550	9200-9450	-50/-100
Northeast China	92#	9300-9300	9300-9300	0/0
	95#	9500-9500	9500-9500	0/0

 

Future forecast

From the perspective of international crude oil, the strengthening of the US dollar index temporarily offsets the favorable atmosphere of production reduction. At present, the upward power of international oil prices is insufficient, and there is room for decline. In the Chinese market, the market returns to dull, the demand support for the end of pre-holiday hoarding weakens, the monthly performance pressure of refineries increases, and there are more profit promotion operations. Taken together, China's gasoline market is expected to continue to decline in the short term.

 

 

Maximum retail price list of gasoline and diesel in provinces, autonomous regions, cities and central cities

Since 24:00 on September 20, 2023, the prices of gasoline and diesel in China (the same below) will be increased by 385 yuan and 370 yuan per ton respectively. After the adjustment, the maximum retail prices of gasoline and diesel in all provinces (autonomous regions and municipalities) and central cities are shown in the attached table. The next price adjustment is expected to be October 10th.

 

Schedule

Maximum retail price of gasoline and diesel in provinces, autonomous regions, cities and central cities

Unit: yuan / ton

	I. areas with one province and one price
	Gasoline (standard)	Diesel oil (standard)
Beijing	10500	9435
Tianjin	10465	9400
Hebei Province	10465	9400
Shanxi province	10535	9455
Liaoning province	10465	9400
Jilin Province	10465	9400
Heilongjiang province	10465	9400
Shanghai	10480	9405
Jiangsu Province	10520	9440
Zhejiang Province	10520	9455
Anhui province	10515	9450
Fujian Province	10540	9465
Jiangxi province	10520	9460
Shandong province	10475	9410
Hubei province	10490	9425
Hunan Province	10530	9485
Henan province	10485	9420
Hainan province	10610	9535
Chongqing	10680	9610
Guangdong province	10545	9470
Guangxi Zhuang Autonomous region	10610	9535
Ningxia Hui Autonomous region	10470	9400
Gansu province	10450	9420
Xinjiang Uygur Autonomous region	10245	9295
II. Areas with one province and one price will not be implemented for the time being
	Gasoline (standard)	Diesel oil (standard)
Hohhot	10480	9415
Chengdu city	10685	9635
Guiyang city	10645	9560
Kunming City	10675	9590
Xi'an city	10450	9410
Xining City	10430	9445

                                                                

Note: 1. The prices in the table include consumption tax, value-added tax, urban construction tax and additional education fees.

2. The prices of gasoline and diesel oil in the table are in line with the compulsory national standards of VIA and Ⅵ in the sixth stage.

3. The sixth stage standard of gasoline and diesel is gasoline and No. 0 vehicle diesel respectively.

4. The prices of gasoline and diesel oil that meet the quality standards of the sixth stage for the national reserve and the Xinjiang production and Construction Corps are 9735 yuan and 8670 yuan per ton respectively, and other relevant oil price policies shall be implemented in accordance with the provisions of the measures for Oil Price Management.